Plan Snapshot
- Plan Sponsor: American Business Group
- Sponsor EIN: 272355987
- Sponsor Address: 7900 97TH STREET SOUTH, COTTAGE GROVE, MN, 55016
- Plan Type: 401(k)
- Total Participants: 145
- Total Assets: $11.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 145 | $11.6M | $110,876 | $396,673 |
| 2023 | 145 | $10.7M | $124,051 | $406,344 |
| 2022 | 152 | $8.9M | $129,440 | $446,400 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| BOYUM BARENSCHEER | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BOYUM BARENSCHEER — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $36,852 | $36,852 | — | — | — |
| 2023 | $33,006 | $33,006 | — | — | — |
| 2022 | $32,376 | — | $32,376 | — | — |